How to Successfully Gain Hold in The Hotel Industry

Many people dream about having their own hotel and managing and building their own vision but running a hotel can be extremely difficult as it entails more stress than having a regular job. But it has its own perks where it puts you in a situation in which you have to meet new people, and gives you full control over your profession. But like everything related to entrepreneurship, this venture requires you to have a well-thought-out business plan and a lot of hard work and patience. But with the right mind-set and dedication, you can make this dream of yours come true. Tourism and hospitality are interesting and fruitful prospects, which lend their freedom once you gain hold of them.

A lot of people who want to get into the hotel and tourism industry have two reasons to do so. Its either because they see it as a real state investment or it’s simply because of a life-long passion. For the latter, its simply the idea of harbouring an environment for people to give them a memorable experience. People who are running big hotels generally outsource their businesses to a third-party management company to handle their portfolios, but newer businesses usually run them on their own and manage everything by themselves. In the end, even if you’re a newer business you could still build a great experience — from social acquisition to checkout IRL — and be successful in this industry.

Scale of The Hotel and Demographics of the Location

Before putting work in a project, the first thing you need to know is the scale of your project. When investing in a project, you have to look at your funds, and figure out ways to keep your business afloat. There are many options when it comes to hotels including luxury hotels, upscale, motels, resorts, midscale, and economy. There’s also another chain of hotels that’s different from the standard one’s, and these are called boutique hotels. Figuring out what kind of hotel you want to spend in requires you to gauge the geographic location where you want to set up your business. If it’s a popular tourist destination, you’d likely attract tons of visitors regardless of your hotel type but it’s always better to have a blue print and an image in your mind to catch up with the niche in your region. You also need to check occupancy rates in your region. If you have guests that are interested in the things and activities that are near your hotel, then you can never go wrong with it. If that’s not the case, then you have to have some incentives to attract guests and make their stay better.

If for some reason, you are starting your business in a place where theres a scarce supply of hotels, you need to check the pricing of all the hotels operating in your area and compare them with the pricing you have for your hotel. If the pricing in your area is comparatively higher then it gives you a good incentive to set up your business as higher price will give you good return and profit. Don’t fret over the demand, because trying to measure demand, won’t work. Investing in areas with less supply of motels is beneficial and you also need to look at traffic maps as they will tell you annual average daily traffic. Identify the reason people drive by this place and know what kind of group they belong in i.e. tourists, industry workers, businesses professionals, etc. Because you need reliable and consistent customers.

Drawing Incentives for Guests

The next thing is to target the audience and draw people to your business to increase bookings. The location and ambiance of your hotel is a pivotal aspect that could make your business more lucrative. You need to market your hotel and provide people a nice and welcoming ambiance so they can make their friends and relatives visit it as well. One of the ways you can make the ambiance of your hotel and rooms better is having huge windows and great furniture and ornaments. Small details like amazing soap displays, shampoo bottles, attractive bathrooms and room furniture. This way, your guests could take pictures and market your hotel on their social media profiles.

Hotel staff uniform is important too as it is the first thing that catches the attention of guests when they are greeted by the staff. You should also be mindful of the pictures that go on the internet because prospective guests will compare your rooms against rooms on Airbnb. Hence the internet presence and how it appears on sites, matters a lot. Social media word of mouth and hotel aggregator sites is what prompts bookings. If you work towards improving that, everything else will sail smoothly.

Entertaining The Guests

One of the challenges that new hotels (especially the one’s that run on small scale) face is entertaining their guests. Small hotels have to do extra work in the beginning to build up rapport with their customers and personal service is their major allure for that reason. Usually its easy for the staff and management to get on the same wavelength with their guests but sometimes it could be challenging if you have no common ground, and even having a small talk could become difficult. The hotel staff should always be ready to cater to guests of every temperament. At the end of the day, you want to make the visit of your guests memorable and worthwhile.

But all in all, running a hotel can be a double edged sword if not done properly. You need to be prepared for every sort of unforeseen circumstances like covering for the staff at the last minute, cancelling your own personal plans, work weekend, vacations, holidays, etc. You’ll also have to work housekeeping, maintenance, grounds keeping, breakfast, while maintaining accounting, getting supplies and managing inventory, scheduling, etc.

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